Introduction. Strong performance from Education (96% booked for 2011) PGL UK centres 99% booked for 2011 Strong start to 2012 – 39% booked; PGL UK centres at 63% Excellent trading performance from Meininger; 2 new sites this year Resilient performance in tough operating conditions
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Neil BrightGroup Finance Director
1 Before amortisation of other intangible assets acquired via business combinations of £0.7m (2010: £0.9m), separately disclosed items of £1.1m (2010: £nil) and, for loss per share, the tax effect thereof of £0.2m (2010: £0.2m)
2 Before IAS 39 mark-to-market revaluations of financial derivatives of £4.2m credit (2010: £1.4m charge) and, for loss per share, the tax effect thereof of £1.1m charge (2010: £0.5m credit)
1 Education includes share of Meininger post tax profit of £0.3m (2010: £nil)
2 Before amortisation of other intangible assets acquired via business combinations of £0.7m (2010: £0.9m) and separately disclosed items of £1.1m (2010: £nil).
Movement in net debt
Net debt & facility utilisation
* Acquisition of a 50% stake in Meininger for £31.1m in December 2010
Interest & currency hedges
Martin DaviesGroup Chief Executive
Meininger: creating a European leader
No. 1 educational travel provider in Europe
Capacity changes: PGL UK centres at -1% and Camping at -3%
Meininger’s performance reflects the anniversary of the Frankfurt site which opened in April 2010
This document contains forward-looking statements with respect to the operations, performance and financial condition of Holidaybreak. By their nature, these statements are subject to risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed or implied because they relate to future events.
Unless otherwise required by applicable law, regulation or accounting standard, we do not undertake to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
The financial information referenced in this presentation does not contain sufficient detail to allow a full understanding of the results of Holidaybreak. For more detailed information, please see the full year results announcement for the year ended 30 September 2010 which can be found on the Investor Relations section of the Holidaybreak website – www. holidaybreak.co.uk